Legislative and Judicial Actions
GAO Turns to DOL for Additional Cybersecurity Guidance
The Government Accountability Office calls for more guidance on cybersecurity matters and lists recommendations for the DOL to implement.
Fog Still Hangs Over Defunct DOL Fiduciary Rule’s Influence
By the time the 5th Circuit vacated the DOL fiduciary rule expansion last year, advisory and brokerage firms had spent many millions of dollars to comply with the rule. Congressional Democrats want to know more about what’s happened since.
GAO Recommends IRS Reconsider Rollover Rules for Retirement Accounts Claimed From States
The GAO notes that the IRS has not taken action to ensure that individuals who claim retirement savings from a state can roll over these savings to other tax-deferred retirement accounts after the IRS’s 60-day deadline, and is concerned that, "Account owners who are unable to roll over their reclaimed savings forgo the opportunity to continue investing the funds on a tax-deferred basis.”